Crane Tar and Gravel Ltd. operates a road construction business. In its first year of operations, the company won a contract to build a road for the municipality of Cochrane West. It is estimated that the project will be completed over a three-year period starting in June 2023. Crane uses the percentage-of-completion method of recognizing revenue on its long-term construction contracts. For tax purposes, and in order to postpone the tax on such revenue for as long as possible. Crane uses the completed-contract method allowed by the CRA. For the second year of operations, Crane made progress on the construction of the road for the municipality. The account balances at December 31, 2024, for the construction project and the accounting and tax balances of accounts related to the equipment used for construction follow. (The balances at December 31, 2023, are also listed.) Crane's tax rate was 25% in 2023 and 2024. The enacted tax rate for 2025 and subsequent years was reduced to 2096 on September 15, 2024. Income before income tax for the year ended December 31, 2023, was $198,100 and for December 31, 2024, was \$125,200. Crane reports under IFRS. E Your answer is incorrect. Calculate any deferred tax balances at December 31, 2024. (Round answer to O decimal ploce, eg. 5,275.) Deferred tax List of Accounts Attempts: 1 of 3 used